Mission Critical Communication Market to hit US$ 27,876.68 Million, Globally, by 2028 at 8.6% CAGR: The Insight Partners

According to the new research report titled "Mission Critical Communication Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 27,876.68 million by 2028, registering a CAGR of 8.6% from 2022 to 2028.

North America held the second-largest mission critical communication market share in 2021. The growth in the region is attributed to continuous technological breakthroughs and increased acceptance of digital land mobile radio (LMR) products in the government and commercial sectors. The US government has introduced interoperability standards to enable the efficient use of LMR products, facilitating quick and uninterrupted communication during disasters. The protection of critical infrastructure is seen as the most severe economic and national security challenge by the governments of North American countries. These factors trigger the demand for mission critical communication products in North America and in turn impact the mission critical communication market growth in North America.

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Asia Pacific is expected to record the fastest CAGR in the mission critical communication market during the forecast period. The projected market growth of the region is attributed to an increase in the number of industries in developing countries such as China, India, and Japan. These countries are investing in critical communication equipment for the benefit of their citizens. For example, Sepura and its partner, Consort Digital, provided a complete communication solution to Mauritius, offering voice and data communications via Sepura TETRA radios to the new Mauritius Metro Express. The products will be backed by daily duties such as maintenance, cleaning, and employee resources. Such deployments are likely to boost the mission critical communication market share in APAC.

In North America, the COVID-19 pandemic positively impacted mission critical communication market. It is one of the most vital regions for the development and adoption of new technologies due to favorable government policies that boost innovation, the presence of a substantial industrial base, and the high purchasing power of a large number of people, especially in developed countries such as the US and Canada. The manufacturing and electronics industries are among the prominent markets for mission critical communication solutions in the US.

Government agencies, police forces, transportation, mining, and military and defense forces have been among other major end users of mission critical communication products and solutions since Q4 of 2020. In July 2020, Ørsted, a global leader in offshore wind and the most sustainable company in the world, selected Atos, a global leader in digital transformation, to implement mission-critical communications solutions for a fast, secure system to help Ørsted achieve its goal of delivering clean, reliable energy to the environment and local East coast communities in the US.

Moreover, the Canadian public safety agencies in 2022-2023 is making huge investment according to the public safety minister of the country. The funds are redirected to procure and adopt technologies for protecting Canadians from firearm violence, detecting the inflow of illegal firearms, and detecting drug trafficking amongst others. These initiatives are expected to offer lucrative growth opportunities for the Canadian mission critical communication market. Additionally, the country is also rapidly taking initiatives to reduce its carbon footprint. For instance, the Canadian government announced an investment of US$ 960 million in the development of renewable energy plants and grid improvements. These investments are further expected to positively impact the demand for MCX solutions across the country and create a snowball effect on mission critical communication market.

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The mission critical communication market size has been segmented on the basis of component, technology, vertical, and geography. Based on components, the mission critical communication market size is segmented into hardware, software, and services. Based on technology, the mission critical communication market analysis is bifurcated into LTE and land mobile radio. Based on vertical, the mission critical communication market analysis is categorized into public safety and government agencies, transportation, energy and utilities, mining, and others. Based on geography, the mission critical communication market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Key Findings of Study:

The global mission critical communication market is segmented into five major regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South America. In 2021, Europe led the largest market share, followed by North America and APAC, respectively. However, the mission critical communication market in APAC is expected to register the highest CAGR during 2022-2028.

APAC significantly experienced a rise in military expenditure owing to growing government initiatives to empower the military bases across their countries. According to the reports published by Stockholm International Peace Research Institute (SIPRI) in 2021, the total military expenditure of APAC accounted to US$ 856 billion in 2021, showcasing an increase of 3% compared to the military spending in 2020. China and India together accounted for more than 60% of the defense expenditure of the region. This rise in military expenditure is encouraging the procurement of advanced weapons and communication systems by these countries, thereby fueling the mission critical communication market growth in APAC.

Mission Critical Communication Market: Competitive Landscape and Key Developments

Telefonaktiebolaget LM Ericsson; Thales Group; L3Harris Technologies, Inc.; Motorola Solutions; and Hytera Communications Corporation Ltd. are a few key mission critical communication market players. In addition, several other companies were studied and analyzed to get a holistic view of the market and its ecosystem. Ascom Holding AG (Ascom); Huawei Technologies Co., Ltd.; Nokia Corporation; TASSTA GmbH; Zenitel; and many more mission critical communication market players are considered during the study.

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In 2021, Ericsson is expanding its 5G capabilities with the release of an end-to-end solution that will ensure the constant low latency and high reliability required by time-critical applications and services for consumers, companies, and governments.

In 2022, Nokia partnered with Cibicom, a Danish operator and internet service provider (ISP), to build a new 450MHz LTE (4G) network. The initiative will ensure that crucial mission-critical services across the country have access to highly dependable and secure connections while also preparing for mainstream IoT deployment.

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Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

This release was published on openPR.